Homeowners insurance is just about a necessity for most homeowners. It's something that's budgeted for along with the mortgage before the house is even closed on. But if you've felt that you've been giving too much money to the insurance company lately, it may be possible to cut back on your premium without losing a lot of benefits. Here are a few ways to save some money on your homeowners insurance, like a policy from Bailey Insurance Group.

Can You Afford a Higher Deductible?

The deductible is the amount you have to pay before your insurance company will start picking up the bill when something goes wrong. When you first purchase a house, it's usually a good idea to go for a lower deductible, just so you have peace of mind that things are taken care of when you first start chipping away at the mortgage. But if you have paid your mortgage off or are otherwise in solid financial shape, you may be able to save a considerable amount of money by simply informing the insurance company you are willing to pay a larger deductible if something goes wrong.

Upgrade Your House

If you've been looking at renovating a part of your house but have been putting it off, it might be time to take a look at this again, but through the lens of what it could do for your premium. Some insurance companies give discounts for homes that have certain features. For example, if you had glass that is advertised as shatter-proof, or add roof materials that are more durable and less likely to wear down over time, this could save you some money on the insurance. Anytime you make an upgrade to your house, always call your insurance provider to let them know.

Add Security and Safety Features

Another way to save some money on your homeowners policy besides upgrading existing features of your house would be to add entirely new features that improve your home's safety. For example, if your home does not have many smoke detectors installed, adding more could be a benefit. Installing an alarm to help stop burglaries could also help.

If you feel like your homeowners insurance is costing you too much money, take a look at changes you could make that could bring your premium down without putting you at too much risk. It may be possible to save some money if you are willing to swallow a larger deductible when things go wrong. Also consider what upgrades you could make to your house or new safety and security features could be installed in order to obtain a discount from your insurance provider.